COMMERCIAL

Greymouth Evening Star, 24 December 1934, Page 8

COMMERCIAL

OKARITO DREDGE. [per press association.] DUNEDIN, December 21. The Okarito dredge closed down today for the holidays. The return was 28oz. sdwt. for 122 hours’ working. BELL HOOPER CROMWELL. CHRISTCHURCH, December 24. The 801 l Hooper Cromwell Gold, Ltd., return for the week ended December 21 was: —19ozs Tdwts 20gro. BRIAN BORU. Brian Boru, Dredging Company’s return last week was 20oz 6dwt of gold for 102 hours’ work. BIG RIVER GOLD MINES. Gold returns for November and December, 1934: —Battery Department: 325 tons of ore crushed for 2590zs melted gold. Cyanide Department: 300 tons sands treated for 26 ozs bullion. Total estimated value: £1925. In addition 5 tons 17 cwt 3 grs concentrates have been saved, valued at £165. Note: In estimating the above values, gold has been taken at 140/per fine ounce. Crushing has been suspended for Christmas and New Year holidays, also water supplies for driving battery are exhausted througli phenomenal spell of dry weather. MOONLIGHT-NELSON CREEK The mine manager reports for the week ended December 8 as follows: —

Sluiced throughout the week. I have now a small portion of the bottom stripped, equal to about a quarter of the paddock. The remainder being deeper will necessitate an extra box being put in to draw Gold picked up casually during sluicing operations was 1 oz. in small pieces. I have not started cleaning in any bottom yet. Lack of water curtailed operations a bit, but this to a certain extent has been now minimised on account of having the remainder of the paddock reduced. I think I can manage ’with the water available, which is about 13 heads, enough to work one nozzle.

The report for the week ended December 15, is as follows:—Sluiced Monday, cleaned bottom Tuesday, advanced the branch race boxes Wednesday, then commenced to work in the bottom and continued this for the remainder of the week. All the bottom will be in by Wednesday next. Coming through the high reef from Moonlight, we unearthed a drive, probably one of 70 years ago. Through irregular bottom a lot of wash has to be navvied out of the holes and harrowed into the boxes, and this not having had the action of the water, was muddy, thereby obscuring any gold. I am holding five ounces of picked up gold to date.

HATTERS FLAT COMPANY. At the first annual meeting of shareholders in the Hatters Flat Mining Company, the chairman (Mr J. A. Neilson) occupied the chair. The Chairman said that the directors regretted not being able to report the results which had been confidently expected. The original method of working the claim was to be a combination of Saurmann drag for removing the top debris together with a power nozzle and gravel pump for handling the auriferous wash. In November. correspondence was received from Mr J. S. Langford with a view to altering the method of operation. The new method of working the claim was to be by one 1] yard drag scraper and one half-yard diamond scoop, together with one six inch Tangye pump. With this plant, Mr Langford undertook to open up and deliver over the tables 25,000 yards of auriferous wash by a certain date. This has not been accomplished. Mr Langford’s explanation as to the failure of the system was that excessive rainfall had caused an excess of “slurry” in the paddock, and whereas the drag scraper worked excellently in dry wash, it was not efficient, in “slurry.” A furrier report on the method of working the claim was considered necessary by the directors, and Mr C. B. Mercer. M.I. Mech.E., was engaged to* furnish an independent report. His report was in all phases particularly favourable to a lOin. gravel pump being installed. As finance had almost run out, it was proposed that further shares to the extent, of .£3OOO be issued. Asked by a member if the values as set out in the prospectus were found, the chairman stated that Investigations, Ltd., put down two holes recently to check the original prospecting shafts, and these amply proved that the values as shown in the shafts were correct.

The annual report and balance-sheet were adopted. The retiring auditors, Messrs J, W, Snieaton and Company were re-elected. Messrs J. z\. Neilson and U. J. Kerr were re-elected directors. After discussion by members on the proposed new system of working the claim, it was decided that the gravel pump method be put into operation, and that the capital of the company he increased by the issue of 60,000 additional shares of 1/- each, being preferential shares as to capital distribution on winding up, and as to an 8 per cent, cumulative dividend, after that ranking pari passu with ordinary shares as to dividend. At a meeting of directors held after the annual meeting, Mr A. F. Foley tendered his resignation, and Mr R. S. Frapwell was appointed to fill the vacancy.